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There was a modest improvement in the volume of capital invested into global real estate markets during the second quarter of this year, with a new report from Jones Lang LaSalle suggesting the sector is now "back on track to achieve USD 400 billion (GBP 256 billion) volumes for 2012". However, the firm noted the focus remains firmly on core assets in prime locations, as the continued economic uncertainty is still affecting investor sentiment.

Signs of improvement were recorded in office markets, though, with every region posting an increase in leasing volumes during the three months from April to June, compared to the first quarter of this year. Jones Lang LaSalle did state that these figures still remain ten to 15 per cent lower than the same period a year earlier in the US and Europe, as well as being below their peak in Asia-Pacific markets. The firm also pointed out vacancy rates are on a downward path, with the global office industry now reporting a vacancy rate of 13.3 per cent - the lowest it has been since 2009.

CBRE recently released research showing capital values for office properties increased by 0.3 per cent in the second quarter of the year, with global chief economist at the firm Dr Raymond Torto positive about the outlook for the sector. "Despite the economic uncertainty, this quarter provided evidence that, while both occupiers and investors remain highly cost conscious, they are also forging ahead with expansions or investments in prime spaces. This dynamic has helped to bolster rental rates and capital values ever so slightly, and particularly in the US market," he stated.

Indeed, the Jones Lang LaSalle research highlighted the US office sector is "leading the recovery", noting it is the technology and energy industries that are "truly emerging as the demand drivers", especially in the west of the nation.

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